In today’s briefing:
- Link Admin’s In-Specie Distribution of PEXA: Active Selling Followed by Passive Buying
Link Admin’s In-Specie Distribution of PEXA: Active Selling Followed by Passive Buying
- Link Administration (LNK AU) is selling 10% of its shareholding in PEXA Group (PXA) and plans to proceed with an in-specie distribution of the remainder to Link shareholders in January.
- The increased float will make PEXA Group (PXA AU) the highest ranked non-index constituent and that should result in inclusion to the S&P/ASX 200 (AS51 INDEX) in March.
- There could be selling on PEXA Group (PXA AU) from Link Administration (LNK AU) shareholders following the distribution. Then the passive flows will kick in and support the stock.
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